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Loan Modification
: Mortgage Lender Implode-o-MeterMortgage bankers celebrate victory
By Implode-Explode Heavy Industries
Prediction: they will not make one single additional cent for attempting to force insolvent borrowers to pay back all the principal on their over-valued debt. In fact, they'll probably lose money on the overhead costs of foreclosures and drawn out loan modification negotiations later.
To the Mortgage Banker's Association: you are one sick lobbying group. Good luck on those two headquarters mortgages, by the way.
Glenn Greenwald has more dirt.
Full post as published by Mortgage Lender Implode-o-Meter on May 01, 2009 (boomark / email).
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